Mastercard

Mastercard reported a sharp decline in payments in its most recent quarter, but some digital seeds it planted before the coronavirus pandemic are already bearing fruit.

Mastercard is stepping up its involvement with cryptocurrencies by inviting digital payment operators to launch crypto cards through its platform, beginning with U.K.-based Wirex.

A staged implementation rolling up national systems offers EPI its best prospects. Still, it’s a long shot, says Intrepid Ventures’ Eric Grover.

At a time when many have shifted to digital payments to weather the coronavirus pandemic, the four main U.S. credit card brands are aggressively expanding their own take on digital commerce.

More than a dozen large European banks plan to launch a payment system that would rival U.S. payment companies and technology firms, an idea that hasn’t worked in the past but may have a better chance given the current global health, economic and political crises.

Thanks to their close relationship with the card networks, banks stand to benefit most from deals like Mastercard’s agreement to buy Finicity and Visa’s pending purchase of Plaid. The prospects for fintechs and consumers are dicier.

Mastercard Inc. vowed to improve the diversity of its leadership ranks, saying it plans to increase the number of Black leaders at the vice president level and above by 50% by 2025.

Mastercard has agreed to acquire Finicity for a reported price of $825 million, a move the card brand says will strengthen its open banking platform and expand financial services through more real-time access to data.

Splitit has boosted its merchant access in the crowded install payment market through a series of deals with large payment companies, the latest being a five-year agreement with Mastercard.

Merchants prevailed in a long-running legal battle with Visa and Mastercard in the U.K. over whether interchange fees the payment card networks charged for years in Britain were anticompetitive, which could increase scrutiny on U.S. card interchange rates.